As long as it doesn't race too far, too fast. Traders inevitably sacrifice location when they see something on the move and we all know what happens after that.

This shouldn't be a moment when the primary motivation to trade is worry about missing out. Nevertheless, equity markets are up. The dollar down. Emerging markets have caught a bid and bond yields look a little closer to what would seem to jive with whatever we take to be current fundamentals. That's not a bad thing to wake up to on a Friday morning at the end of a bleak week.

Will the pretty picture last?